Lamont wants to improve his chances to be a successful entrepreneur and so he has written a business plan.One advantage of developing this plan is that it:

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Developing a business plan forces an entrepreneur to think through all the aspects of their planned business, such as identifying target customers, determining the competition, setting goals and objectives, and planning financial projections. This helps the entrepreneur to identify potential challenges and opportunities for improvement, which can improve the chances of success in starting the business. A business plan does not guarantee financing or meet federal reporting requirements unless specifically designed to do so.

Lamont Wants to Improve His Chances to Be a Successful